Overview
- EU governments endorsed an open-ended freeze of Russian assets by written procedure, with 25 votes in favor and two against under qualified majority rules.
- Belgium, Bulgaria, Italy and Malta attached a declaration stating their yes votes do not prejudge any future decision on using immobilized funds, which they say must be taken by leaders.
- The Bank of Russia filed a lawsuit against Euroclear in the Moscow Arbitration Court seeking damages over what it calls illegal actions tied to the immobilization and potential use of its assets.
- Russia’s central bank said it will challenge any direct or indirect use of its frozen holdings in all available national, foreign and international courts as well as arbitral bodies.
- EU Commissioner Valdis Dombrovskis said central securities depositories such as Euroclear can legally offset Russian seizures with immobilized assets in Europe and are protected, while Belgium’s prime minister cautioned that using the funds would be arduous and noted Belgium holds roughly €190 billion.